Two Companies That Are Merging

Brief Overview

I’m losing my voice and losing my mind. Why can’t they keep this more simple? In this episode, I’m about to tell you the story about a company merger that got super complicated by accountants and lawyers. You’ll learn the big marketing lesson I took away from my experience!

Story

In 2016, I had a partnership with New York Times best-selling author, Michael Hyatt. I helped him grow his business by expanding all of his teachings and turning them into offerings, products, memberships, and all kinds of other stuff. While we saw tremendous success and everything went awesome, at a certain point, I decided it was time to part ways (on tremendously great terms) so I could fully focus on building my own brand. I wanted to create a business that would allow me to teach more people what I was doing to create recurring revenue.

As a part of an experiment, I started Tribe and brought in my brother-in-law Andrew and 2 other guys who run a multi-seven-figure software company. Nothing was very official, as this was just one big experiment. Long story short, we launched the Tribe Course and it was a massive success. We realized the crazy potential that this brand had and due to the success, we found ourselves in a situation where we had to make things more official. So, we decided we would merge the companies together.

So, we get together with our accountants and our lawyers and we talk about how we’re going to merge. And while I love my accountant, she’s amazing, I will tell you, during the initial merger phone call, my eyes hurt, my ears were screaming and my heart just sank. I felt like somebody was poking needles in my eyes after we met and discussed what needed to happen in order to merge companies. It just got SUPER complicated and in the end, I got to the point where I seriously didn’t even want to move forward.

At the end of the day, we all decided to just keep it simple. We decided to just thank the Lawyers and Accountants for their time, and instead go out and form a new company from scratch. While there was this big complicated built-out plan from the accountants and lawyers, the reality was, we just wanted a simple solution. Which brings us to our marketing lesson for the day…

Big Ideas

[06:00] When it comes to marketing, if you want to convince somebody of something, or if you want somebody to take action on something, then your marketing has to present a clear benefit. It has to be super simple to understand. And if the person that you’re trying to market to can’t understand the value of what you’re providing, then there’s no way that they can make a decision or there’s no way that they’re going to make a decision.

So, it’s really, really, really important that you and I in our marketing just keep things simple. Always come back to the core benefit that you provide as a result of your products or services. Because if you don’t, you’re going to lose people and then they’re not going to do what you want them to do.

Quote to Remember

“A confused mind never buys.” – Stu McLaren

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